As technology and chipmakers’ stocks surged Monday to begin another abbreviated business week, stock futures also increased.
S&P 500-related futures increased by almost 0.7%. Futures for the Nasdaq-100 rose 0.9%. Futures for the Dow Jones Industrial Average increased by 125 points, or 0.3%.
Following Foxconn’s announcement of record fourth-quarter revenue, chip stocks led the first increase.
Micron Technology saw a 5% increase, while Nvidia and Broadcom saw increases of over 1.5% and 2.5%, respectively.
With lingering fears over the Federal Reserve’s interest rate projections, investors are starting another abbreviated trading week on a shaky note.
This week will coincide with the next of the first five trading days in January. In observance of former President Jimmy Carter’s passing, the New York Stock Exchange will be closed on Thursday.
Source (CNBC)
